Thursday 29 October, 2020

National bank records second highest net income

The St Kitts-Nevis-Anguilla National Bank has recorded another stellar performance for the financial year,ending June 2019.

Speaking at Thursdays sitting of the National Assembly, Prime Minister Harris said the bank recorded a net income of just over $52 million, the second highest in its history.

PM Harris, who is also Finance Minister of the Federfation of St Kitts and Nevis, said “the excellent cadre of leaders at the operational level and the higher echelon of the board for recording the second highest net income in the history of the bank at $52.3 million. This of course must bring high confidence in the management and leadership of the bank by its 267 employees and its 5,596 shareholders.”

He said the banks performance is indicative of the financial standing of the Federation and the healthy standing of those who have shares and the bank at large.

With an asset base of $3.69 billion, the St. Kitts-Nevis-Anguilla National Bank is the largest indigenous bank in the Eastern Caribbean Currency Union. Prime Minister Harris said this is a significant accomplishment that should not go unnoticed.

Prime Minister Harris also disclosed the Board of Directors proposal of 15 percent dividend per share, which is up 50 percent from last year.  

If approved at the bank’s annual general meeting in December, he said shareholders will participate in a dividend pay-out of $20.3 million.

Get the latest local and international news straight to your mobile phone for free: